Bitcoin CRUNCH TIME: What happens next with BTC is ANYONE'S guess – analysis

With its long-spent booster rockets a distant memory, the main engine fought courageously for almost three days before one final puff of smoke marked the point where the nose slowly dipped below the horizon and a seemingly irrecoverable dive began. Sunday’s curious sharp rise which began what many believed to be the original cryptocurrency’s recovery from a two-month slump shuddered sideways, powered by the hopes of investors keen to see a push through the $ 4,050 resistance line. Alas, it was not to be. Instead (and as predicted by Express.co.uk on Tuesday), after a few days walking the tightrope bitcoin fell off a cliff at the other side.

It was a sudden and dramatic reversal of the upwards surge that created a fanfare of excitement at the start of the week.

And while we may have accurately called it a few days ago, what happens next is anyone’s guess.

The direction which bitcoin takes from this point cannot be predicted by anyone – no matter how good they are at evaluating markets.

If anyone can map out the next few days and weeks then a medal should be issued for luck rather than judgement.

What we are seeing now is the dark side of a concept that most crypto-believers feel is a powerful force for good.

Unfortunately, the disappointingly continuous volatility of bitcoin and other cryptocurrencies erodes its potential as the future of world finance.

The violent swings in value may be attractive to those fast moving in-and-out traders happy to make a few dollars here and there amid the oscillations of an unsteady market, but they are no good for good investors who want to be in this game for the long term.

Once again, bitcoin’s prospects of revival were undone by a lack of volume.